00RS HB875


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HB 875 (BR 2016) - S. Riggs

     AN ACT relating to insurance.
     Amend Subtitle 9 KRS Chapter 304 to adopt the Single Insurance Producer License and agent licensing initiatives based on a model act; create a new section of Subtitle 9 of KRS Chapter 304 to prohibit the commissioner from assessing a greater fee for an insurance license to a nonresident based solely of the fact of nonresidency in Kentucky; amend KRS 304.10-020 to make technical changes; amend KRS 304.10-140 and 304.10-070 to change the financial responsibilities and requirements regarding surplus lines, to establish notice procedures for the commissioner to follow regarding ineligibility of a surplus lines insurer; amend KRS 304.10-110 to establish that surplus lines brokers are liable to the insured as to losses covered by insurance and for unearned premiums upon cancellation of insurance; amend KRS 304.10-120 to establish that an individual licensed as a surplus lines broker in the applicant's home state may be issued a nonresident surplus lines broker's license in this state if there is reciprocity; amend KRS 304.10-180 to clarify tax responsibilities of brokers; amend KRS 304.10-130 and 304.9-107 to conform; amend KRS 302.2-120 to require licensees and holders of a certificate of authority to notify the commissioner in writing within thirty (30) days of changes in address or in the legal name used by the licensees or holders; and repeal KRS 304.4-015, 304.9-050, 304.9-060, 304.9-220, 304.9-380, 304.9-434, and 304.0-455.


     HCA (1, S. Riggs) - Make technical changes.
     HFA (1, J. Gooch) - Make technical change.
     HFA (2, R. Crimm) - Provide that a license as an agent or consultant shall not be required of individuals or entities selling lines of insurance not previously regulated by the department or individuals or entities selling lines of insurance not specifically authorized to be regulated by the Kentucky Revised Statutes.
     SCS - Amend KRS 189,285 to remove the requirement of proof of health insurance when registering a motorcycle; repeal KRS 186.865 regarding motorcycle registration requirements and health insurance requirements, and make technical changes.
     SFA (1, D. Karem) - Make technical changes.

     Feb 28-introduced in House
     Feb 29-to Banking and Insurance (H)
     Mar 1-posting waived; posted in committee
     Mar 2-reported favorably, 1st reading, to Calendar with committee amendment (1) ; floor amendment (1) filed
     Mar 3-2nd reading, to Rules
     Mar 6-posted for passage in the Regular Orders of the Day for Tuesday, March 7, 2000; floor amendment (2) filed
     Mar 7-3rd reading, passed 91-2 with committee amendment (1), and floor amendment (1)
     Mar 8-received in Senate
     Mar 10-to Banking and Insurance (S)
     Mar 16-floor amendment (1) filed
     Mar 21-floor amendment (1) withdrawn ; reported favorably, 1st reading, to Consent Calendar with Committee Substitute
     Mar 22-2nd reading, to Rules
     Mar 23-posted for passage in the Consent Orders of the Day for Friday, March 24, 2000
     Mar 24-3rd reading, passed 38-0 with Committee Substitute ; received in House; posted for passage for concurrence in Senate Committee Substitute
     Mar 28-House concurred in Senate Committee Substitute ; passed 95-0
     Mar 29-enrolled, signed by each presiding officer, delivered to Governor
     Apr 7-signed by Governor (Acts ch. 393)

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